Tx cont-16

1. Unit 3: Ownership Rights
and Limitations

2. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Texas Homesteads
 Urban and Rural Homesteads
 Requirements for a Valid Homestead
 How is a Homestead Terminated?
 What is the Effect of Homestead on Liens?

3. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Possessory Interests
 Freehold Estates
 Fee Simple Absolute Estate
 Fee Simple Defeasible Estates
 Fee Simple Determinable
 Fee Simple Subject to Condition Subsequent
 Life Estates
 Estate in Reversion
 Estate in Remainder
 Reserving a Life Estate
 Estate Pur Autre Vie
 Nonfreehold Estates
 Periodic Tenancy
 Tenancy for Years
 Tenancy at Sufferance
 Tenancy at Will

4. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Mineral Estates
 Dominance of the Mineral Estate
 Rights of the Mineral Estate
 Exceptions and Limitations
 TREC Addendum for Reservation of Oil, Gas, and Other
Minerals

5. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Non-Possessory Interests, Part 1 (Financial
Encumbrances)
 Voluntary Liens
 Deeds of Trust
 Title  Reconveyance
 Remedy for Default
 Mortgages
 Involuntary Liens
 Judgment Liens
 Lis Pendens
 Tax Liens
 Property Tax Liens  Special Assessments
 Mechanic’s Liens
 Classes of Claimant  Time Frames
 Protection  Priority of Mechanic’s Liens

6. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Non-Possessory Interests, Part 2 (Non-Financial
Encumbrances)
 Easements
 Classification of Easements
 Appurtenant Easements
 Easements in Gross
 Creation of Private Easements
 Easements by Express Agreement
 Easements by Implication
 Implied Easement Created by Reservation or Grant
 Easement by Necessity
 Easements by Estoppel
 Easement by Prescription

7. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Non-Possessory Interests, Part 2 (Non-Financial
Encumbrances)
 Easements
 Termination of Private Easements
 Termination by Express Agreement
 Termination by Merger
 Termination by Failure of Purpose
 Termination by Abandonment
 Types of Easements
 Underground Easements
 Overhead Easements
 Surface Easements
 Conservation Easement

8. UNIT 3: OWNERSHIP RIGHTS AND
LIMITATIONS
Non-Possessory Interests, Part 2 (Non-Financial
Encumbrances)
 Profit-à-Prendre
 Private Restrictions
 Deed Restrictions
 CCRs
 Types of Prohibited Restrictive Covenants